The National Welfare Fund "Samruk-Kazyna" sold stakes in two companies to the Qatari firm Metaleen Investments Holdings LLC.
According to ORDA, Samruk-Kazyna's financial reports state that the fund sold 55% stakes in its subsidiaries Tau-Ken Temir LLP and Silicon Mining LLP for 4.9 billion tenge.
"As a result, the Samruk-Kazyna group of companies lost control over the subsidiaries and recognised the remaining 45% stake as an investment in associated companies. The fair value assessment of the investments in associated companies will be completed during 2024", the statement said.
It has become known that Tau-Ken Temir LLP was established in 2013. The company is engaged in the production of chemical products, metallurgical silicon, cast iron, steel and ferroalloys.
Silicon Mining LLP has specialised in the extraction of non-metallic minerals since 2008.
Incidentally, the sale of these companies was first mooted back in 2022.
"100% of the stakes in Tau-Ken Temir LLP and Silicon Mining LLP will be sold via an open two-stage tender in accordance with the rules for transferring assets of Samruk-Kazyna JSC to a competitive environment. The starting price for the Tau-Ken Temir LLP plant is 19.9 billion tenge, and for Silicon Mining LLP it is 308.3 million tenge", the earlier statement read.